International Energy Agency: The scale of release of petroleum reserves may reach 3.3 million barrels per day.

To mitigate the impact of supply disruptions and alleviate the price shocks caused by the US-Iran war, the International Energy Agency is coordinating with 32 member countries to release a portion of their combined 1.8 billion barrels of strategic oil reserves. The release amounts to 400 million barrels, or 3.3 million barrels per day. While this amount is far from enough to fill the daily supply gap of 15 million barrels, this move may help curb the rising trend of oil prices. The 172 million barrels released by the US represent 41.4% of its strategic oil reserves.